Every dog has its day, even citigroup

From Nakedcapitalism.com: Reader Steve sent this tidbit from the Australian. Sovereign wealth funds not all that long ago were generally seen as sophisticated to at least competent.
But so were university endowments, and in many cases, “sophisticated” turned out to be tantamount to “has a higher appetite for risk than most” which in a bull market can look very clever…………………………….Full Article: Source